The same day that his partners in crime were busy bashing people in Wellington opposed to coercion, his stock price plummeted
Facebook and Meta CEO Mark Zuckerberg’s horrific start to 2022 has continued well into February, with the billionaire’s social media ventures faltering again on the stock market after last week’s cataclysmic $200 billion ($A280 billion) single-day crash.
The social media giant is now worth less than $US600 billion ($A843 billion), placing it firmly behind US computer company Nvidia in terms of market cap for the first time in the pair’s rivalry.
The company, which has previously scraped past $US1 trillion ($A1.4 trillion) in market cap, generated more than $US117 billion ($A163 billion) in revenue in 2021. However, first-quarter forecast that badly missed estimates has sent its stock into freefall, dropping an incredible 26 per cent the following day.
The dip represented the largest 24-hour crash in the stock market’s history and now even long-time advocates of Zuckerberg are abandoning ship.